SEOUL, March 6 (Yonhap) – South Korea and Indonesia signed a won-rupiah currency swap deal worth US$10 billion in a bid to strengthen financial cooperation between the two nations, the Bank of Korea (BOK) said Thursday.
With the deal, Seoul and Jakarta can exchange up to 10.7 trillion won or 115 trillion rupiah (US$10.0 billion) for three years, the central bank said. The three-year currency swap could be renewed if both sides agree at the time of expiration, it added.
The deal was signed by BOK Gov. Kim Choong-soo and his Indonesian counterpart Agus D.W. Martowardojo in Jakarta. The two nations agreed on the currency swap in October.
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